Corporate Plan 2008 - 2012 - Belfast Harbour

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Business Powers It was decided by the previous Assembly that Trust Ports had insufficient commercial freedom and that consequently the ports were not positioned to maximise their financial performance for the benefit of the economy. This remains very much the case and, given the aforementioned need to double port capacity by 2025, it is vital that the ports are enabled to achieve greater returns. There remains the risk that, without this approach, the level of spending required will ultimately result in the NI Trust Ports being unable to self-finance the very significant infrastructure investments needed to deliver the additional capacity required. The Port’s role as an economic driver is easily recognised on the marine side of the business where enabling and promoting trade have very significant positive consequences for the region. During the life of this Corporate Plan, the Port’s ability to enhance its role as an economic catalyst through the development of Titanic Quarter lands and other aspects of the Property portfolio will come to the fore. Indeed, this is already evident through the Port’s participation in the provision of office facilities in advance of their letting to Foreign Direct Investors and such commitment during the Plan will enable the creation of further high value jobs and the introduction of key businesses to the benefit of the local economy. Land Ownership Whilst the Northern Ireland Port Policy Review has afforded the opportunity to examine the above issues, it also raised the question of the Port of Belfast’s land bank. The Port of Belfast has a successful track record of land stewardship and has widely communicated the importance of Estate revenues to the funding of Port capacity. Notwithstanding this, there exists a view in some quarters that the Port of Belfast land bank might be expropriated and put to other use. Such an action would render the organisation incapable of self-funding the necessary port capacity to support the projected long term growth of the regional economy. Stakeholder Context As a Trust Port, the Port of Belfast’s relationship with its Stakeholders is a vital element of the business. Stakeholders include direct and indirect port customers, port service providers, employees, manufacturers, tenants, developers, government, communities and other general public interest organisations. Catalyst for Economic Development Working in the Public Interest is central to the value system of the business and is demonstrated in the facilitation of key projects such as the Titanic Signature Project, Northern Ireland Science Park and Odyssey. School children from four Belfast schools visit The Harbour Office. Customers The most significant Port customer issue during the life of the Plan is the provision of marine capacity, particularly that related to containers. As customers seek economies of scale, average vessel sizes continue to increase in length and draft. These increases in ship sizes are paralleled by customer requirements for higher cargo discharge rates and faster vessel turnaround times. Such customer needs require the Port to provide: increased out-of-hours support; longer and deeper berths; higher capacity cranes; and reinforced quays and hinterland to accommodate ever larger secondaryhandling equipment. Ship manoeuvrability is also increasing as customers invest in more sophisticated vessels to improve safety and reduce the cost of towage. Competent Harbour Authorities must respond to these changes by ensuring that proscribed Towage Requirements are safe and can be efficiently delivered. Page 16
The Port of Belfast is Ireland’s busiest ferry port carrying approximately 1.1 million passengers in 2007. Page 17
Page 1 and 2: Port of Belfast Corporate Plan 2008
Page 3 and 4: Contents 1 Chairman’s Summary 2 T
Page 5 and 6: Section 1 Chairman’s Summary Over
Page 7 and 8: Section 2 The Trust Port Construct
Page 9 and 10: Section 3 Purpose, Values and Visio
Page 11 and 12: Section 4 Business Goals • Operat
Page 13 and 14: Section 6 The Port of Belfast Busin
Page 15: Section 7 Key Business Issues Econo
Page 19 and 20: The Port’s Safety Systems have re
Page 21 and 22: In July 2007, the Port announced pl
Page 23 and 24: Regeneration projects facilitated b

Corporate Plan 2008 - 2012 - Belfast Harbour

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